Your succession plan may benefit from a separation of business and real estate

Your succession plan may benefit from a separation of business and real estate Like most businesses, yours probably has a variety of physical assets, such as production equipment, office furnishings and a plethora of technological devices. But the largest physical asset in your portfolio may be your real estate holdings — that is, the building […]

July 4, 2019


Thinking about moving to another state in retirement? Don’t forget about taxes

Thinking about moving to another state in retirement? Don’t forget about taxes When you retire, you may consider moving to another state — say, for the weather or to be closer to your loved ones. Don’t forget to factor state and local taxes into the equation. Establishing residency for state tax purposes may be more […]

July 3, 2019


Employers: Be aware (or beware) of a harsh payroll tax penalty

Employers: Be aware (or beware) of a harsh payroll tax penalty If federal income tax and employment taxes (including Social Security) are withheld from employees’ paychecks and not handed over to the IRS, a harsh penalty can be imposed. To make matters worse, the penalty can be assessed personally against a “responsible individual.” If a […]

July 1, 2019


Close-up on the new QBI deduction’s wage limit

Close-up on the new QBI deduction’s wage limit The Tax Cuts and Jobs Act (TCJA) provides a valuable new tax break to noncorporate owners of pass-through entities: a deduction for a portion of qualified business income (QBI). The deduction generally applies to income from sole proprietorships, partnerships, S corporations and, typically, limited liability companies (LLCs). […]

July 30, 2018


Is your inventory getting the better of you?

Is your inventory getting the better of you? On one level, every company’s inventory is a carefully curated collection of inanimate objects ready for sale. But, on another, it can be a confounding, slippery and unpredictable creature that can shrink too small or grow too big — despite your best efforts to keep it contained. […]

July 26, 2018